Rank confident of immediate prospects

23rd Jun 2011 07:29

Casino and bingo hall operator Rank said total group revenue for the 25 weeks to 19 June 2011 rose by 4% as it remains confident in immediate prospects and the achievement of its longer-term ambitions. Revenue at Grosvenor Casinos rose 13% in the ten weeks to 19 June with customer visits up 12% and spend per visit was up 1%. Total revenue increased by 12% after robust trading in London and the Provinces. Mecca Bingo grew comparable revenue by 2% in the ten-week period. Spend per visit increased 3% despite a 1% decline in customer visits. Total revenue growth fell slightly following the closure of underperforming clubs. Top Rank Espana revenue declined 19% in the ten-week period in Sterling and 22% in euro terms, as customers were put off by the smoking ban. Customer visits slumped 13% and spend per visit declined 6%. However Rank remains confident that Spain is an 'attractive market'. Rank Interactive revenue surged 28% in the ten-week period after a bumper performance from meccabingo.com. Looking ahead the group said it had made a positive start to the year with growth in customers and customer visits and a significant strengthening of the balance sheet.